With a passion towards development of the future of the gaming space, investment firm Andreesen Horowitz recently revealed a massive $600Million fund, focused on the gaming industry.
Introduction of the Games Fund One
Andreessen Horowitz, popularly known as a16z recently revealed a new dedicated fund named as, Games Fund One, for the development of new video games based on Web3 and the Metaverse. A16z stated that the upcoming metaverse is to be constructed by game companies, so to stimulate this development, the firm is allocating around $600Million in support of the developers and studios surrounding them.
The company stated about three principal areas it wants to dedicate its impressive investment towards, firstly game studios, secondly the overall infrastructure and lastly buyer interests. Referring to the absurdly massive popularity of games such as, Fortnite and League of Legends, a16z stated that it believes that video gaming will become one of the main ways that people will seek to spend their free time and said that the firms focused on innovation will be powered by publicly operated communities.
Games Fund One might be a16z’s fundamental firm, but the investment firm has also provided support to many globally popular games. A16z has invested in Zynga and Oculus, while also supporting highly experienced developers from that have been a part of major game studios such as, Riot and Epic Games.
The firm also stated that its work towards the gaming industry has led to them thinking that games require two focuses, one is providing support through dedicated investments and second is giving operational effectiveness that emphasizes uniqueness and looking into the future, just like the gaming industry.
A16z’s Support towards Crypto and Blockchain
This emphasis towards giving support to the gaming industry is a sort of proof that a16z is not only focused on cryptocurrency investments but is also interested in supporting other unique and popular industries like, Gaming. However, highlighting its crypto investments, a16z invested more than $2Billion in the development of cryptocurrencies and blockchain back in the summer of last year.
Reports have also suggested that the firm was also looking to put another $4.5Billion for similar development, however that claim has not been officially confirmed by the a16z itself. Looking at the immense support that this investment firm has put towards crypto and blockchain, it highlights that the company has been very optimistic about its development and establishment for several years of time.